GROTON -- Only a few occasions call for the use of a giant pair of scissors, but Rollstone Bank & Trust were justified in using them on Thursday afternoon.
The Fitchburg-based bank held a ribbon-cutting ceremony to celebrate the opening of its ninth location at 788 Boston Road in Groton. The new location sits at the intersection of Boston Road and Sandy Pond Road near the Shaw's supermarket also on Boston Road. Rollstone has three locations in Fitchburg, two in Leominster and one in Worcester. The bank now has a growing footprint in the eastern section of Nashoba Valley with the new Groton branch joining locations in Harvard and Townsend.
Rollstone President and CEO Martin Connors Jr.
"We already do a lot of business here," he said. "We have over $67 million in deposits in the Nashoba Valley area and $35 million in loans. We have a fair amount here already. This is also a nice area for our wealth-management department, I think there's an opportunity there. Community banking is what we do and we expect to be very successful.
Connors and Rollstone COO Arthur Feehan also presented a check for $20,000 to the Groton Senior Center. Kathy Shelp, director of the town's Council on Aging, and Mihran Keoseian, outreach coordinator for the Friends of the Groton Elders, received the donation.
"Being a former Fitchburg resident and knowing Rollstone's reputation, their presence and business models are going to serve Groton," Keoseian said.
"We're thrilled to have their support," Shelp said.
"I think being here on (Route) 119, which is heavily commuted, makes it easy access for a lot of people," Feehan said. "We're hoping it's more convenient for people. Being a community bank, we're about being convenient and helping people. I think this will be a great place for that."